Richemont acquires controlling stake in Italian shoemaking maison, Gianvito Rossi
Richemont has acquired a controlling stake in Gianvito Rossi, the Italian shoemaking maison, in a private transaction.
Source: © Richemont Richemont Richemont has acquired a controlling stake in Gianvito Rossi, the Italian shoemaking maison
The announcement was made on the Richemont website and reported on in various media outlets.
Gianvito Rossi’s footwear embodies the finest expression of Made-in-Italy craftsmanship, leveraging the longstanding tradition of luxury shoemaking in the artisanal heart of the San Mauro district, and benefiting from a precious family heritage, nurtured through generations.
Founded in San Mauro Pascoli in 2006, Gianvito Rossi has gained global recognition for its universe of sophisticated signatures and new designs, quickly becoming a must-have for A-list celebrities with the support of first-rate global fashion media.
Gianvito Rossi, the founder, CEO and creative director of the brand, will retain a stake in the company and continue to nurture and develop the maison in partnership with Richemont.
He says he has found in Richemont a partner who shares common values such as the greatest attention to quality, design and craftsmanship and the preservation of tradition handed down from generation to generation.
“I decided to choose them to keep developing the brand worldwide and for their expertise and model of global expansion. Our partnership will be beneficial for the company’s next stage of growth, and we look forward to starting this exciting new chapter together with a spirit of fruitful cooperation,” says Rossi.
Philippe Fortunato, Richemont CEO of fashion & accessories maisons, comments, “Gianvito Rossi is an exceptional maison with unique savoir-faire in the world of shoemaking. Its core attributes of uncompromising quality, elegance and timelessness are perfectly aligned with Richemont’s values.
We are delighted to welcome Gianvito Rossi, his family and his teams to Richemont and look forward to jointly ensuring the enduring creativity and the long-term development of this unique Maison.”
No financial impact
The transaction has no material financial impact on Richemont’s consolidated net assets or operating results for the year ending 31 March 2024.
The performance of Gianvito Rossi will be reported under the ‘Other’ business area, which is mostly composed of the fashion and accessories maisons.
Completion remains subject to certain customary conditions and regulatory approvals.
Luxury goods group Richemont, chaired by Johann Rupert, has a portfolio that includes maisons distinguished by their craftsmanship and creativity, and its ambition is to its maisons and businesses and enable them to grow and prosper in a responsible, sustainable manner over the long term.
